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  • Bancolombia S.A.: An Irrational Drop Will Be Followed By A Rational Recovery  [View article]
    No !!! Your logic is correct. Wait. On the other hand though, I think Avianca can be bought. The rules they play by are different than the banks and they benefit from lower oil. With a low cost structure they can cancel flights when the planes are not full (ever fly between Bogota and Cartagena ? Happens all the time). Most flight personel get paid on "wheels up" basis and in Colombia a pilot makes less then $15K. Ground personnel get minimum wage (about $260 a month). Though it is leveraged, cash flow supports a strong earnings flow except in the June quarter when traffic is light. They also own Deprisa - the FedEx of South America. Advent Intl just paid them $350M for 30% of its frequent flyer program LifeMiles. Do the math, the entire airline is now valued at less then the remaining 70% they kept. You get the airline and freight business for free !
    Sep 29, 2015. 06:26 PM | 2 Likes Like |Link to Comment
  • Discovery Laboratories: Market Now Gives Zero Value To Its Pipeline  [View article]
    Some of us who have worked hard and created something in life can't imagine what it is like for John Cooper to get up in the morning and look in the mirror knowing how incompetent he is and how much destruction of value and waste of money he has under his watch. And all the while enriching himself with an absurd salary for such a lack of experience. Such a waste. Such a pathetic Board of Directors to have allowed this for over 15 years. In all may years in the VC / biotech industry, this is the shining example of how management can ruin a potentially great discovery.
    Sep 12, 2015. 10:45 AM | 1 Like Like |Link to Comment
  • Discovery Laboratories: Market Now Gives Zero Value To Its Pipeline  [View article]
    I have known this company since inception having backed its first round (sold long ago for over ten years). This company is not worth a dime until the Board wakes up and gets rid of this incompetent H&R Block accountant CEO who should not be allowed to ever hold an executive position in any company. I know this man. He was not management material when Capatola hired him as CFO back in 2001. He has destroyed more shareholder value in this company than the former founder. Stay away until then.
    Sep 11, 2015. 04:31 PM | 3 Likes Like |Link to Comment
  • Brazil: The Last Place Your Money Should Be  [View article]
    A day late and a few million dollars short. I can't disagree more. Where were you 5 years ago when I was marveling at how all the waiters I have known for years were purchasing cars they couldn't afford to fill with gas and bingeing on credit. Now is the time to be going long Brasil - particularly in banking (ITAU $6.80) and housing (GFA $1.16)

    Dilma knows she must move to the center and help businesses. The risk is out of well capitalize industry leaders. they have been hammered
    Sep 4, 2015. 01:01 PM | Likes Like |Link to Comment
  • What's Going On With Nuo Therapeutics?  [View article]
    Good piece Jason.
    Sep 4, 2015. 10:15 AM | Likes Like |Link to Comment
  • I Am Bullish On The Canadian Dollar  [View article]
    Update. Canadian real estate sales have slowed to a crawl. The real estate market in Canada makes up twice the percentage of GDP than it does in the U.S. which means with extremely overheated prices and consumer debt to income a 162% (the high in the world an compared to 100% in the U.S. and 100% presently) Canada is head for ten years of recession - short of oil rebounding to $100. Interestingly, the 27% rebound in oil to the high 40's did nothing for the loonie. Smells like a dead cat bounce in oil and future destress for Canada.
    Sep 1, 2015. 08:43 AM | 1 Like Like |Link to Comment
  • Bancolombia S.A.: An Irrational Drop Will Be Followed By A Rational Recovery  [View article]
    Now THAT'S research ! - a vacation in Medellin and a girlfriend in Cartagena. Another typical gringo chasing skirt.

    The Villa family (one of Colombia's bigger builders) has indicated that sales are the slowest in 10 years with 90% of all buyers being investors. Bancolombia, which gets a great deal of business from these fiduciary accounts builders set up when taking orders on apartments, is returning more money due to failed starts (not enough orders to begin construction). That means loan demand is next to decline as well as more bad loans.

    Wait on CIB and buy AVH if you like to play leverage, the cheap peso and gringos chasing skirt. The only risk there is the choice of Fabio's replacement.
    Aug 28, 2015. 10:17 AM | 1 Like Like |Link to Comment
  • Bancolombia S.A.: An Irrational Drop Will Be Followed By A Rational Recovery  [View article]
    This was a certainly an articulate, intelligently and factually relevant reply. Really Bezek, get off your ass and come here and open and account (live here and try to bank), talk to the big developers (all of which have indicated virtually all sales for the last several years have been to none-occupant buyers - a good sign of the top) , do some some real homework and contribute something factual.
    Aug 27, 2015. 08:53 AM | 1 Like Like |Link to Comment
  • Bancolombia S.A.: An Irrational Drop Will Be Followed By A Rational Recovery  [View article]
    This bank has lower to go to be of real value. Real estate is beginning to so rapidly in Colombia and problem loans are just beginning to rear their ugly heads. Bogota, Medellin, and Cartagena have seen too many investor buyers leaving no one else to buy.

    Anyone who has lived in Colombia and has an account with this bank will tell you it is very inefficient. The banks online capability is archaic and needs some real web-developers to help them bring modern efficiency to banking. Local offices are always overcrowded with people with problems and everyone complains. Simple tasks such as bill payment can be a huge problem requiring a visit to the local branch and a long wait. For the average American like myself who has an account with Bancolombia one would find this bank far behind the times in comparison to Itau or Santander or even some of the other new national upstarts. It's local name and NYSE listing are wearing thin.
    Aug 26, 2015. 09:29 AM | 2 Likes Like |Link to Comment
  • Air Canada Is Beginning To Take Off  [View article]
    You facts are completely wrong. Not sure where you got them. They are not government stats. What's a higher wealth ratio and what's that have to do with the prices of apples ? As for tourism, who cares ! No one south of the boarder is that interested in Canada as history has told us. Americans look at Canada as that Socialist country to the north with some good skiing out west. Tourism is a pimple on the ass and a amounts to nothing for Canada. As for Canadians traveling - sorry again, your numbers are wrong. Boarder crossing are down significantly as the average Canadian is tapped out and can not afford more even if the loonie was at par. Numbers don't lie. Unless their yours.

    But I'll head up again next weak and listen to my neighbors and banker friends bitch and tell a very different story than yours. The long term trend in oil, which Canada is banking on, is not good. Cars get twice the mileage they did 10 years ago. Alternative fuels and electricity are gaining ground - particularly in the fleets and trucks. Like Brasil and Colombia, most cars run on nat-gas which the U.S. is awash in and they look to the U.S. to buy their oil like Canada. Manufacturing has died in Ontario, and has been in a decline as a percentage of the Canadian economy for years. Blackberry proved that Canada is a day late and a dollar short when it comes to tech. As a VC I can attest their no real money chasing deals north of the border. Canada is fast becoming a bunch of hamburg flippers in a service economy except in certain places where the government is supporting the economy with ship building and contract jobs (oh yes, and propping up a money losing, internationally non-competitive, socialist airline for the sake of jobs). But that's like taking money out of your left pocket and putting it in your right and saying you made money. Canada does not look pretty long term from any angle.
    Jun 8, 2015. 08:51 AM | Likes Like |Link to Comment
  • Air Canada Is Beginning To Take Off  [View article]
    Are you a nuts ! Anyone who puts money into Canada in any manner is a fool. It does not take a rocket scientist to figure this out. It's like looking back at 2007 in the U.S. in retrospect at the household income to housing prices ratio....you would have sold your home immediately had you. Canada has the most indebted household in the world dwarfing the U.S. peak in 2007 by some 50% or more at 169% of income. The country itself has nothing to sell but oil as its manufacturing sector has been decimated over the last 15 years and will not return unless the loonie gets to .65 where it was in 2000. And even then, that takes time as companies just don't open factories overnight. So with a falling loonie and the Canadians staying home due to their declining incomes and higher costs and tapped out credit cards, your thesis does not hold water. You make see your bounce off the bottom, but believe me, the cat is dead.
    Jun 7, 2015. 09:42 AM | 3 Likes Like |Link to Comment
  • Full Analysis Of P2/3 Psoriasis Data Boosts Can-Fite Shares  [View article]
    Personally as someone very active in conducting clinical trials, something is very off here. I agree, something is quite strange that there was such a dramatic decrease in efficacy between the two cohorts. I personally would like to know who (which CRO) and where these trials were conducted and on what bases these patients selected. The whole thing seems very odd the way the results have been made public and I have not seen anything like it.
    May 9, 2015. 10:02 AM | Likes Like |Link to Comment
  • Why The Canadian Dollar Is Gaining  [View article]
    Could not agree more. There is no accountability in Canada. A person can be a banker because there is no risk on any loan made. What a lobby "eh"
    And to answer your question regarding taxpayers on the hook for the 2008 debacle. NO ! Ask and shareholder of Citibank or BoA. They were wiped out and the taxpayer got the banks for free....a no brainer. But the government will still shoo the profit away just like any government.
    Apr 26, 2015. 11:44 PM | Likes Like |Link to Comment
  • How To Grow A Regenerative Medicine Industry In Canada: Michael May Of CCRM  [View article]
    Nice to see the effort but unfortunately Canada and its biotech industry is far behind and lacks the educational resources of the U.S and the rest of the world. As compared to what is going on at the University of Maryland's own center for biotechnology, CCRM is a pipe dream.
    Apr 25, 2015. 12:56 PM | Likes Like |Link to Comment
  • I Am Bullish On The Canadian Dollar  [View article]
    lower than 75
    Apr 24, 2015. 07:20 PM | Likes Like |Link to Comment